Equities research analysts forecast that Verifone Systems, Inc. (NYSE:PAY) will announce $464.03 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Verifone Systems’ earnings, with the highest sales estimate coming in at $467.09 million and the lowest estimate coming in at $462.50 million. Verifone Systems posted sales of $492.60 million in the same quarter last year, which suggests a negative year-over-year growth rate of 5.8%. The business is expected to announce its next quarterly earnings results on Thursday, September 7th.
According to Zacks, analysts expect that Verifone Systems will report full year sales of $464.03 million for the current financial year, with estimates ranging from $1.86 billion to $1.87 billion. For the next financial year, analysts expect that the firm will report sales of $1.93 billion per share, with estimates ranging from $1.91 billion to $1.97 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Verifone Systems.
Verifone Systems (NYSE:PAY) last issued its quarterly earnings data on Thursday, June 8th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $474 million during the quarter, compared to analysts’ expectations of $472.80 million. Verifone Systems had a positive return on equity of 11.55% and a negative net margin of 7.53%. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS.
PAY has been the topic of several research reports. BidaskClub raised Verifone Systems from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Barclays PLC reaffirmed an “equal weight” rating and set a $20.00 price objective (down previously from $22.00) on shares of Verifone Systems in a report on Sunday, June 11th. Imperial Capital lowered their price target on Verifone Systems from $20.00 to $19.00 and set an “in-line” rating on the stock in a report on Tuesday, June 13th. BMO Capital Markets lowered their price target on Verifone Systems from $21.00 to $20.00 and set a “market perform” rating on the stock in a report on Friday, June 16th. Finally, BTIG Research reissued a “neutral” rating on shares of Verifone Systems in a report on Monday, June 12th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company’s stock. Verifone Systems presently has an average rating of “Hold” and an average price target of $18.73.
Shares of Verifone Systems (NYSE PAY) traded up 0.26% during trading on Friday, hitting $19.56. The stock had a trading volume of 1,057,188 shares. The stock’s market cap is $2.19 billion. Verifone Systems has a 12-month low of $14.94 and a 12-month high of $20.98. The stock’s 50-day moving average is $18.56 and its 200-day moving average is $18.64.
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A number of large investors have recently made changes to their positions in the stock. DORCHESTER WEALTH MANAGEMENT Co raised its stake in shares of Verifone Systems by 3.6% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 127,955 shares of the business services provider’s stock worth $2,397,000 after buying an additional 4,410 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Verifone Systems during the first quarter worth $60,167,000. Nationwide Fund Advisors raised its stake in shares of Verifone Systems by 1.2% in the first quarter. Nationwide Fund Advisors now owns 186,289 shares of the business services provider’s stock worth $3,489,000 after buying an additional 2,145 shares in the last quarter. SFE Investment Counsel raised its stake in shares of Verifone Systems by 0.9% in the first quarter. SFE Investment Counsel now owns 47,480 shares of the business services provider’s stock worth $889,000 after buying an additional 445 shares in the last quarter. Finally, Palisade Capital Management LLC NJ raised its stake in shares of Verifone Systems by 22.2% in the first quarter. Palisade Capital Management LLC NJ now owns 732,110 shares of the business services provider’s stock worth $13,712,000 after buying an additional 133,085 shares in the last quarter.
Verifone Systems Company Profile
VeriFone Systems, Inc offers payments and commerce solutions. The Company is engaged in designing, manufacturing, marketing and supplying a range of payment solutions and complementary services. It provides solutions and services for the retail point-of-sale (POS) that enable various forms of commerce.
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